The analyst firm also raised its EPS estimates for the company through 2015. Hess' Bakken should continue to drive growth according to Credit Suisse analyst Edward Westlake.
"We believe HES has one of the dominant positions in the core of the Bakken. An average IP of 976boed is highly profitable given well cost reductions," Westlake wrote." The key for the November analyst day is the running room from downspacing and potential rig acceleration to drive value harder."
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TheStreet Ratings team rates HESS CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate HESS CORP (HES) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, reasonable valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."